Grimes & Company Inc. Purchases Shares of 3,742 Brookfield Asset Management Ltd. (NYSE:BAM)

Grimes & Company Inc. purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,742 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new stake in Brookfield Asset Management during the second quarter valued at about $42,160,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookfield Asset Management by 66.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after acquiring an additional 784,250 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter valued at approximately $19,075,000. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter valued at approximately $14,216,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $59.88 on Monday. The business has a fifty day moving average price of $55.91 and a 200 day moving average price of $49.33. Brookfield Asset Management Ltd. has a one year low of $37.29 and a one year high of $60.11. The company has a market cap of $26.54 billion, a P/E ratio of 52.99, a P/E/G ratio of 2.15 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group assumed coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average price target of $54.38.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.